Taking everything into account, TPH scores 5 out of 10 in our fundamental rating. TPH was compared to 60 industry peers in the Household Durables industry. TPH has an excellent financial health rating, but there are some minor concerns on its profitability. TPH has a valuation in line with the averages, but it does not seem to be growing.

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

TPH had positive earnings in the past year.
TPH had a positive operating cash flow in the past year.
Each year in the past 5 years TPH has been profitable.
Each year in the past 5 years TPH had a positive operating cash flow.

1.2 Ratios

The Return On Assets of TPH (6.22%) is comparable to the rest of the industry.
TPH has a Return On Equity (9.39%) which is comparable to the rest of the industry.
TPH has a Return On Invested Capital of 6.45%. This is comparable to the rest of the industry: TPH outperforms 43.33% of its industry peers.
TPH had an Average Return On Invested Capital over the past 3 years of 10.20%. This is in line with the industry average of 9.71%.

		Industry Rank	Sector Rank
ROA	6.22%
ROE	9.39%
ROIC	6.45%

ROA(3y)9.52%

ROA(5y)9.28%

ROE(3y)15.16%

ROE(5y)15.46%

ROIC(3y)10.2%

ROIC(5y)10.07%

1.3 Margins

With a decent Profit Margin value of 8.27%, TPH is doing good in the industry, outperforming 71.67% of the companies in the same industry.
In the last couple of years the Profit Margin of TPH has grown nicely.
Looking at the Operating Margin, with a value of 10.40%, TPH is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
In the last couple of years the Operating Margin of TPH has grown nicely.
TPH has a Gross Margin of 22.20%. This is in the lower half of the industry: TPH underperforms 68.33% of its industry peers.
In the last couple of years the Gross Margin of TPH has grown nicely.

		Industry Rank	Sector Rank
OM	10.4%
PM (TTM)	8.27%
GM	22.2%

OM growth 3Y-5.72%

OM growth 5Y7.18%

PM growth 3Y-4.72%

PM growth 5Y8.69%

GM growth 3Y-2.33%

GM growth 5Y2.47%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so TPH is still creating some value.
Compared to 1 year ago, TPH has less shares outstanding
TPH has less shares outstanding than it did 5 years ago.
The debt/assets ratio for TPH has been reduced compared to a year ago.

2.2 Solvency

An Altman-Z score of 3.93 indicates that TPH is not in any danger for bankruptcy at the moment.
With a decent Altman-Z score value of 3.93, TPH is doing good in the industry, outperforming 61.67% of the companies in the same industry.
The Debt to FCF ratio of TPH is 4.34, which is a neutral value as it means it would take TPH, 4.34 years of fcf income to pay off all of its debts.
TPH has a Debt to FCF ratio (4.34) which is comparable to the rest of the industry.
TPH has a Debt/Equity ratio of 0.36. This is a healthy value indicating a solid balance between debt and equity.
TPH has a Debt to Equity ratio of 0.36. This is comparable to the rest of the industry: TPH outperforms 45.00% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.36
Debt/FCF	4.34
Altman-Z	3.93

ROIC/WACC0.72

WACC8.97%

2.3 Liquidity

A Current Ratio of 9.02 indicates that TPH has no problem at all paying its short term obligations.
TPH has a Current ratio of 9.02. This is amongst the best in the industry. TPH outperforms 90.00% of its industry peers.
TPH has a Quick Ratio of 1.99. This is a normal value and indicates that TPH is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of TPH (1.99) is better than 85.00% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	9.02
Quick Ratio	1.99

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

The earnings per share for TPH have decreased strongly by -29.67% in the last year.
The Earnings Per Share has been growing by 26.86% on average over the past years. This is a very strong growth
TPH shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -16.60%.
Measured over the past years, TPH shows a small growth in Revenue. The Revenue has been growing by 7.82% on average per year.

EPS 1Y (TTM)-29.67%

EPS 3Y5.7%

EPS 5Y26.86%

EPS Q2Q%-45.76%

Revenue 1Y (TTM)-16.6%

Revenue growth 3Y4.1%

Revenue growth 5Y7.82%

Sales Q2Q%-25.74%

3.2 Future

TPH is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -12.83% yearly.
Based on estimates for the next years, TPH will show a decrease in Revenue. The Revenue will decrease by -8.56% on average per year.

EPS Next Y-41.4%

EPS Next 2Y-29.44%

EPS Next 3Y-12.83%

EPS Next 5YN/A

Revenue Next Year-23.15%

Revenue Next 2Y-16.48%

Revenue Next 3Y-8.56%

Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 9.97, the valuation of TPH can be described as reasonable.
71.67% of the companies in the same industry are more expensive than TPH, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of TPH to the average of the S&P500 Index (27.21), we can say TPH is valued rather cheaply.
With a Price/Forward Earnings ratio of 14.06, TPH is valued correctly.
TPH's Price/Forward Earnings is on the same level as the industry average.
TPH's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.26.

		Industry Rank	Sector Rank
PE	9.97
Fwd PE	14.06

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of TPH indicates a somewhat cheap valuation: TPH is cheaper than 63.33% of the companies listed in the same industry.
TPH's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. TPH is cheaper than 80.00% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	10.71
EV/EBITDA	8.04

4.3 Compensation for Growth

TPH has a very decent profitability rating, which may justify a higher PE ratio.
TPH's earnings are expected to decrease with -12.83% in the coming years. This may justify a cheaper valuation.